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Good Financial Management

Good Financial Management. Eleanor McGuckin Associate Training Of Community Change. Good Financial Management – The Basics. Setting up suitable financial systems for your group Putting the systems in place ‘to keep you safe’ (including groups financial procedures)

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Good Financial Management

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  1. Good Financial Management Eleanor McGuckin Associate Training Of Community Change

  2. Good Financial Management – The Basics • Setting up suitable financial systems for your group • Putting the systems in place ‘to keep you safe’ (including groups financial procedures) • Meeting the financial needs and obligations of your funders • Financial reporting at group meetings

  3. Good Financial Management- Suitable Finance Systems • Bookkeeping – Income and Expenditure • Manual Bookkeeping • Microsoft Excel – spreadsheets • Keeping a Cheque Journal • Filing • Keeping your information safe

  4. Good Financial Management – What systems do you need? • You will need a Finance Policy & Financial Procedure • Who will look after the finances? • What experience will they have to enable them to do this? • Who will be the cheque signatories? • Who will they report to? • Will your group need to set-up a ‘finance sub-group’

  5. Good Financial Management – What the’Funders’ requirements are? • What did you apply for and how much? • What information does the funder require from you? • When do you have to make returns to them? • Do you have to carry out evaluations of the project? • Will they carry out ‘site’ visits? • What is ‘Tracability’?

  6. Good Financial Management- Financial Reporting at Group meeting • Have you set-up a Finance Sub-Group? • Will the Treasurer do the reporting to the MC? • What reports will they need to bring to that meeting?

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